Transnet is running out of cash, Moody’s warns

South Africa’s State-owned transport and logistics company, Transnet, will run out of money for operations and debt-servicing within three months unless it gets a government bailout, according to... 

Steenhuisen lauds new Budget as ‘credible’

The head of South Africa’s second-biggest political party said talks about the nation’s revamped budget are “are going very, very well,” a signal that the coalition government is resolving... 

Chinese gold miner Chifeng scours globe for takeover targets

A major Chinese gold producer is scouting for acquisition opportunities around the world, although the recent price volatility driven by global trade turmoil means it’s not rushing to secure... 

Deputy Finance Minister sees Budget 3.0 as done deal

South Africa’s deputy finance minister said next week’s national budget is set to secure approval from lawmakers, after two previous iterations were scrapped because of disagreements within the... 

Rand surges after South Africa flags inflation-target change

The rand surged to its strongest level against the dollar in two months and government bond yields fell after South Africa’s deputy finance minister said an announcement on the country’s... 

China’s glut of coal locks market in vicious cycle of decline

Chinese coal prices remain locked in a downward spiral due to a persistent glut of the fuel, according to the country’s top industry group. The optimism that’s taken hold in the wake of China’s... 

South Africa’s Land Bank in talks to raise as much as $1bn

A State-owned South African bank that finances farmers is in talks with funders to raise as much as $1-billion as it recovers from a default five years ago. The Land & Agricultural Development Bank... 

Johannesburg’s ‘decay’ strains South Africa’s ruling coalition

South Africa’s biggest parties are at odds over the governance of the country’s largest city, putting further strain on a tenuous national coalition. The Democratic Alliance (DA) governs the... 

‘Bulldog’ ex-Goldman banker answers Carney’s call to fix Canada resources sector

The first time Timothy Hodgson was asked by Mark Carney to come to Ottawa, he left behind an investment banking career at Goldman Sachs Group that had seen him climb the ranks to lead its Canadian... 

Iron-ore bounces back to six-week high on trade-war truce hopes

Iron-ore rose as trade tensions eased, spurring optimism across a metals market that has been hit especially hard by global growth worries. Futures of the steel-making ingredient reached a... 

NATO is sketching out plan to meet Trump call for 5% of GDP on defence

NATO allies have started cobbling together an agreement to significantly boost defense spending in a way that may assuage US President Donald Trump’s demand to spend 5% of economic output on the... 

Transnet, union in talks to avoid strike

The biggest labour union at South Africa’s State-owned port and rail company are starting final talks with a third-party arbitrator to resolve a wage dispute and stave off a potential strike by... 

Carney puts ex-Goldman banker, Quebec loyalist in key jobs

Canadian Prime Minister Mark Carney unveiled his new economic team, keeping longtime politician François-Philippe Champagne as finance minister and placing former Goldman Sachs banker Timothy... 

De Beers secretly sells discounted diamonds to selected traders

De Beers has been quietly selling rough diamonds at sharply marked-down prices to a small handful of customers, in a highly unusual move that’s fuelling tensions across an industry already mired in... 

Nissan skips profit guidance, shuts factories as crisis deepens

Nissan Motor Co withheld its annual profit guidance and said it will shut production plants as the carmaker struggles with the combined headwinds of surging restructuring costs and the fallout of... 

Gold holds heavy loss as markets latch onto US-China optimism

Gold steadied after a sharp selloff as a major de-escalation in US-China trade tensions hurt demand for havens. Bullion traded near $3 237 an ounce — after losing 2.7% on Monday — with investors... 

Ramaphosa says Trump’s Afrikaner refugee programme is misguided

Dozens of White Afrikaners are scheduled to arrive in the US on Monday, the first beneficiaries of a controversial resettlement programme instigated by President Donald Trump that his South African... 

South African suppliers truck fuel as pipeline fees spike

South African fuel suppliers are looking to utilise trucks to transport the commodity inland as the cost of using the nation’s main pipeline operated by Transnet surges. The National Energy... 

Peru’s emergency mining ban to cost $200m in lost gold output

Peruvian gold output is expected to be significantly dented in the coming month due to a mining ban in a northern region of the country that’s seen an up-tick in criminal activity culminating in... 

Eswatini plans $275m wealth fund

The southern African Kingdom of Eswatini plans to start a sovereign wealth fund of around 5-billion emalangeni ($275-million) this year to help channel money into areas including manufacturing and... 

Guinea moves to cancel mining rights of non-compliant companies

Guinea’s transitional President General Mamadi Doumbouya instructed his government to withdraw permits and concessions from mining companies that don’t respect their legal commitments to the... 

South African port union plans more talks to end wage dispute

The main labour union at South Africa’s state port and rail company said it will continue talks next week aimed at resolving a wage dispute and averting a potential strike. Negotiations will take... 

BHP-backed SolGold turns to speedier mine plan to woo investors

SolGold, an Ecuador-focused firm backed by some of the biggest names in mining, is working on options to start production at its flagship project three or four years ahead of previous plans. The... 

Ukrainian Parliament ratifies natural resources deal with US

Ukraine’s parliament ratified a deal with the US over access to the country’s natural resources, lending its full support to attempts by President Volodymyr Zelenskiy to improve ties with Donald... 

South African stocks see renewed interest from foreign investors

The longest streak of inflows into South Africa’s equity market in more than two years signals a pickup in foreign demand as investors look for alternatives to US stocks. Non-residents have been... 

Iron-ore falls as China steel body says output curbs under way

Iron-ore fell as China’s top steel association confirmed that output curbs were under way, and long-awaited PBOC rate cuts failed to deliver a sustained lift in sentiment. Futures fell as much as... 

Trump’s copper tariff probe is expected soon, industry group says

US authorities are expected to decide on copper tariffs well before a year-end deadline, according to a trade group. President Donald Trump in February directed the US Commerce Department to open... 

Red Dog zinc mine gets caught in US-China tariff turmoil

The owner of the world’s largest zinc mine is in discussions to reroute output of the US operation away from China due to the trade war between Washington and Beijing, according to people familiar... 

Zambia regulator approves $270m Congo transmission link

Zambia’s energy regulator approved the construction of a high-voltage transmission line to link its copper rich North-Western province to the Democratic Republic of Congo. The $270-million... 

Mining murders show Peru’s struggles with an illegal gold rush

The bodies of 13 workers at a Peruvian gold mine were discovered over the weekend as criminal groups step up a wave of terror over control of the precious metal in the country’s northern... 

Albanese landslide offers rare chance to fix Australia’s economy

Prime Minister Anthony Albanese shocked Australia by securing an historic win in Saturday’s election. Now the question is whether he’ll use that mandate to push through tough measures to overhaul... 

Trump’s push for deep-sea metals clashes with UN ocean treaty

President Donald Trump first set his sights on Canada and Greenland’s mineral resources. Now he’s eyeing the global seabed that holds vast troves of critical metals for green technologies but is... 

McEwen sees gold equities boom on metal’s bull run to $5 000

Bullion’s record-breaking run will attract investors back to gold mining stocks, leading to “explosive” performance in shares of producers of the precious metal, according to Canadian mining... 

McEwen weighs Argentina share listing as part of copper unit IPO

Canadian mining industry veteran Rob McEwen is considering listing shares in Argentina as part of an initial public offering of his copper venture, the latest sign of the country’s newfound appeal... 

Albemarle sees pressure building for high-cost lithium producers

Albemarle, the world’s biggest lithium supplier, is anticipating more pain for higher cost producers of the battery metal, many of which are losing money due to low prices. About 40% of global... 

Rio survives activist investor push to end dual listing

Rio Tinto Group survived an attempt by an activist investor to force it to review its dual listing structure, with not enough shareholders backing the proposal. Rio had urged shareholders to... 

Gold Road halts trading due to speculation over transaction

Gold Road Resources shares were suspended from trading in Sydney, with the miner citing “media speculation regarding a potential change of control transaction”. The suspension will be lifted when... 

Botswana eyes spending cuts as diamond slump hits economy

Botswana is intent on cutting spending to offset the effects of a prolonged downturn in the diamond market that’s led it to raise its budget deficit forecast to post-Covid peaks, its finance... 

Ramaphosa agrees to establish commission into Apartheid crimes

President Cyril Ramaphosa has agreed to establish a commission of inquiry into alleged political interference in the prosecution of crimes committed during the apartheid era by security forces.... 

De Beers investor Botswana says serious buyers showing interest

Botswana’s government said it’s optimistic that Anglo American will find a buyer for its diamond unit De Beers this year. “We are very confident that partners are coming forward,” Botswana Vice...